Latest news with #Cess
New Indian Express
2 days ago
- Business
- New Indian Express
Andhra Pradesh taxes show 2.3% rise despite decline of GST in May
VIJAYAWADA: Despite a marginal negative growth rate of 2.24% in gross GST collections, Andhra Pradesh has demonstrated remarkable resilience and efficiency in tax collection, successfully reversing the downward trend observed in November and December 2024, asserts Babu A, Chief Commissioner of State Taxes. In a detailed note issued Monday, he explained that the main reason for the negative growth was due to declines in Cess, SGST, and CGST payments, with reductions of Rs 52 crores (-20.02%), Rs 51 crores (-4.11%), and Rs 40 crores (-4.01%) respectively. However he noted that the overall impact of these declines was minimal on the state's actual revenue, as net revenue collections continue to demonstrate strong performance. The resilience of net collections underscores the effectiveness of state-level tax administration and enforcement efforts in ensuring steady revenue inflows, he stated. Further elaborating, Babu stated that the data from the Goods and Services Tax Network (GSTN), Central and State tax administrations showed divergent revenue trends during April-May 2025. Central tax collections declined by 7.2% year-over-year, while state tax administrations recorded 2.3% growth during the same period.
Hans India
3 days ago
- Business
- Hans India
GST collections above Rs 2 trn for second straight month
New Delhi: Gross GST collections remained above the Rs 2 trillion mark for the second month in a row, rising 16.4 per cent in May to over Rs 2.01 lakh crore. Goods and Services Tax (GST) collection had touched a record high of Rs 2.37 lakh crore in April. In May, 2024, the mop up was Rs 1,72,739 crore. In May, 2025, gross revenues from domestic transactions rose 13.7 per cent to about Rs 1.50 lakh crore, while GST revenue from imports grew 25.2 per cent to Rs 51,266 crore. Total gross GST revenues stood at Rs 2,01,050 crore in May, 2025. Gross Central GST revenues stood at Rs 35,434 crore, State GST revenues at Rs 43,902 crore and Integrated GST at about Rs 1.09 lakh crore. Revenues from Cess was at Rs 12,879 crore. Total refunds issued during the month dipped 4 per cent to Rs 27,210 crore. Net GST mop-up in May stood at about Rs 1.74 lakh crore, a 20.4 per cent year-on-year growth. Deloitte India Partner M S Mani said the wide variations in the growth of GST collections across states require a thorough analysis across the sectors that are important in each state.
The Print
3 days ago
- Business
- The Print
Gross GST collections rise 16.4 pc to over Rs 2.01 lakh cr in May
In May, gross revenues from domestic transactions rose 13.7 per cent to about Rs 1.50 lakh crore, while GST revenue from imports grew 25.2 per cent to Rs 51,266 crore. This comes after a record high Goods and Services Tax (GST) collection in April, when the revenues touched an all-time high of Rs 2.37 lakh crore. New Delhi, Jun 1 (PTI) Gross GST collections rose 16.4 per cent to over Rs 2.01 lakh crore in May, as per government data released on Sunday. In May, the gross Central GST revenues stood at Rs 35,434 crore, State GST revenues at Rs 43,902 crore and Integrated GST at about Rs 1.09 lakh crore. Revenues from Cess was at Rs 12,879 crore. In May, 2024, the mop up was Rs 1,72,739 crore. Meanwhile, total refunds during the month fell 4 per cent to Rs 27,210 crore. Net GST mop-up stood at about Rs 1.74 lakh crore, a 20.4 per cent year-on-year growth. Deloitte India Partner M S Mani said the wide variations in the growth of GST collections across states require a thorough analysis across the sectors that are important in each state. While large states like Maharashtra, West Bengal, Karnataka and Tamil Nadu have reported collection increases of 17 per cent to 25 per cent, similar large states like Gujarat, Andhra Pradesh and Telangana have shown increases of up to 6 per cent. Some states like Madhya Pradesh, Haryana, Punjab and Rajasthan have shown median increases of 10 per cent. 'Hence, the average growth across the country does not appear to be uniformly reflected across states possibly due to sectoral or seasonal factors which require a deeper data based analysis,' Mani said. PTI JD DRR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
NDTV
3 days ago
- Business
- NDTV
GST Collections Above Rs 2 Trillion For Second Straight Month
New Delhi: Gross GST collections remained above the Rs 2 trillion mark for the second month in a row, rising 16.4 per cent in May to over Rs 2.01 lakh crore. Goods and Services Tax (GST) collection had touched a record high of Rs 2.37 lakh crore in April. In May, 2024, the mop up was Rs 1,72,739 crore. In May, 2025, gross revenues from domestic transactions rose 13.7 per cent to about Rs 1.50 lakh crore, while GST revenue from imports grew 25.2 per cent to Rs 51,266 crore. Total gross GST revenues stood at Rs 2,01,050 crore in May, 2025. Gross Central GST revenues stood at Rs 35,434 crore, State GST revenues at Rs 43,902 crore and Integrated GST at about Rs 1.09 lakh crore. Revenues from Cess was at Rs 12,879 crore. Total refunds issued during the month dipped 4 per cent to Rs 27,210 crore. Net GST mop-up in May stood at about Rs 1.74 lakh crore, a 20.4 per cent year-on-year growth. Deloitte India Partner M S Mani said the wide variations in the growth of GST collections across states require a thorough analysis across the sectors that are important in each state. While large states like Maharashtra, West Bengal, Karnataka and Tamil Nadu have reported collection increases of 17 per cent to 25 per cent, similar large states like Gujarat, Andhra Pradesh and Telangana have shown increases of up to 6 per cent. Some states like Madhya Pradesh, Haryana, Punjab and Rajasthan have shown median increases of 10 per cent. "Hence, the average growth across the country does not appear to be uniformly reflected across states possibly due to sectoral or seasonal factors which require a deeper data based analysis," Mani said. Price Waterhouse & Co LLP Partner Pratik Jain said 16 per cent growth in GST collections in the month shows a renewed upward momentum after a few months of growth in the range of 11 to 12 per cent. "If the growth continues in this range for the next couple of months, it might provide the cushion for the government to look at rate rationalization on which a lot of work has already been done," Jain said. EY India Tax Partner Saurabh Agarwal said looking ahead, we might see similar GST collection numbers with slight increases in June because of ongoing geopolitical tensions across the globe. Tax Connect Advisory Services LLP Partner Vivek Jalan said with an approx 10 per cent growth in domestic GST revenue and 73 per cent growth in import GST revenues, it is very clear that this month's growth in GST revenue is import driven rather than domestic consumption driven. "This coupled with the fact that exports refunds are not growing correspondingly, reflect the fact that import growth far exceeds export growth," Jalan added.
Mint
4 days ago
- Business
- Mint
India's GST collections for May 2025 rises 16.4% to ₹2.01 lakh crore — Details here
New Delhi, Jun 1 (PTI) Gross GST collections rose 16.4 per cent to over ₹ 2.01 lakh crore in May, as per government data released on Sunday. This comes after a record high Goods and Services Tax (GST) collection in April, when the revenues touched an all-time high of ₹ 2.37 lakh crore. In May, gross revenues from domestic transactions rose 13.7 per cent to about ₹ 1.50 lakh crore, while GST revenue from imports grew 25.2 per cent to ₹ 51,266 crore. In May, the gross Central GST revenues stood at ₹ 35,434 crore, State GST revenues at ₹ 43,902 crore and Integrated GST at about ₹ 1.09 lakh crore. Revenues from Cess was at ₹ 12,879 crore. In May, 2024, the mop up was ₹ 1,72,739 crore. Meanwhile, total refunds during the month fell 4 per cent to ₹ 27,210 crore. Net GST mop-up stood at about ₹ 1.74 lakh crore, a 20.4 per cent year-on-year growth. Deloitte India Partner M S Mani said the wide variations in the growth of GST collections across states require a thorough analysis across the sectors that are important in each state. While large states like Maharashtra, West Bengal, Karnataka and Tamil Nadu have reported collection increases of 17 per cent to 25 per cent, similar large states like Gujarat, Andhra Pradesh and Telangana have shown increases of up to 6 per cent. Some states like Madhya Pradesh, Haryana, Punjab and Rajasthan have shown median increases of 10 per cent.
